UAFRS vs As Reported Weekly Highlights - Asia - 2020 10 30
This week, Valens identified distortions and the corresponding adjustments to correct for those distortions for 1696:HKG, 2175:JPN, and 3738:JPN.Sisram Medical Ltd is an investment holding company principally engaged in the design, development, manufacture and distribution of energy cosmetic medicine and minimally invasive medical cosmetic treatment systems. The Company has a comprehensive medical cosmetic equipment portfolio, including medical beauty product line and life beauty product line, can be used for noninvasive medical cosmetic treatment, such as hair removal, rejuvenation, skin care, vascular treatment and pigmented lesions treatment, removal of tattoos, acne Treatment, fat reduction, body shaping and firming. The Company's medical cosmetic equipment can also be used for minimally invasive medical cosmetic treatment, such as private beauty treatment, laser liposuction, treatment of varicose veins and treatment of hyperhidrosis. The company sells its products in domestic and foreign markets.
SMS and its affiliates are mainly engaged in the daily and non-daily businesses in nursing care, healthcare and active senior fields mainly through Internet in domestic and overseas. Co.'s services include recruiting agent for care managers, recruiting advertisements for care workers, certification course information service, online community for care workers and care managers, nursing care insurance claim systems for small-sized nursing care operators, recruiting agent for nurses, recruiting ads for nurses, recruiting ads for newly-graduated nurses, and online community for nurses and nursing students. Co. also provides health-related online community for active-senior market.
T-Gaia is an information technology ("IT") company. Along with its subsidiaries and associated company, Co. is engaged in the provision of subscription agency services for mobile phone users to join communication network, and distributes mobile phones to general consumers; and the network communication services, including telephone lines, and support services for fiber to the house ("FTTH") promotion, as well as the mobile contents business for cellular phones, and the cellular phone-related distribution business. In addition, Co. sells electronic payment-related products, such as e-money and international telephones, as well as prepaid cellular phones and prepaid cards.
In 2009, just as the dust was settling from the last major equity and credit market crises, we launched a boutique research firm with the intention of breaking Wall Street’s biases and broken incentives:
- GAAP and IFRS have failed to provide rules for reliable financial statement reporting
- Stock analyst recommendations are not grounded in disciplined financial analysis
- Credit agencies have been set up to grossly fail in their responsibilities to investors and the public markets
- Utter lack of willingness of major research firms to employ the the most advanced forensic analysis available
We sought to provide investors and company analysts with a source of information that changed all that.
Many years later, our business model remains because little has changed on Wall Street.
- Corporate credit ratings remain years behind the fundamental underpinnings of company performance
- Stock analysts continue to make recommendations with deeply inherent biases
- Research firms have failed to break down the walls between credit, equity, and macroeconomic research
- The governing accounting bodies have created more leeway for mis-estimates and mis-classifications as financials have become unwieldy and overwhelming
The integrity of Valens Research is founded in our disciplined processes and analytics. No “star” analysts. No corporate advisory relationships. No-nonsense opinions and recommendations.
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